A 25-hectare waterfront site approved for a 11-tower village on a Gold Coast floodplain has been brought to market by vendor diversified local property JLF Corporation.
The Clear Island Waters site has preliminary approval for 1550 dwellings from Gold Coast City Council, which includes almost 10,000sq m for office, retail and a clubhouse, which would deliver a gross realisation of more than $2 billion.
The area is the last major development site to be approved in the Merrimac floodplain, which Savills sales executive James Stevenson said is “due to the extensive planning measures proposed by the proponent”.
“The development team worked closely with GCCC’s hydraulic division to provide a flood mitigation solution that creates a five-hectare refuge podium in the event of 1 in 1,000 year flood.”
The masterplan allows for towers ranging in height from four-to-19 storeys while still retaining more than 80 per cent of the site for parkland, paths and lakes.
The approval provides for a gross floor area of 172,658sqm.
Real estate investment bank Moelis Australia and Savills have been appointed to manage the expressions of interest campaign.
Stevenson said the site offers scope for a developer to create a dynamic ‘village’ in “one of the Gold Coast’s few million-dollar suburbs.”
“Seventy-eight per cent of the suburb is owner-occupiers,” he said.
“The Gold Coast is famous for its strip profile but data proves the majority of coastal property is owned by investors, with owner-occupiers preferring to avoid the holiday influx.
“We expect the future partner or purchaser will be a masterplanned community developer who appreciates the value uplift of integrated amenity catering to the needs of an active, wealthy demographic and their specific unmet needs,” Stevenson said.
Brisbane’s Narrowest Commercial Tower Approved
A development application has been approved for an ultra-skinny mixed use tower located in Brisbane’s CBD.
The 30-storey development, lodged by Sydney-based Lionmar Holdings, will sit atop the heritage-listed Grosvenor Hotel on the corner of George and Ann Streets.
Lionmar, who purchased the site for $4.4 million in November 2010, submitted the development application to council in December 2016.
The office development, located in Brisbane’s legal precinct, will be just nine and a half metres wide and 30 stories tall, making the tower the narrowest building of a comparable height in Brisbane.
The building, designed by Hames Sharley, will feature 9,100sq m of boutique commercial office space, three levels of restaurant space, two apartments and 17 carparks.
The development will also feature a rooftop bar on level 29 with views across the Brisbane River to South Brisbane and through the CBD as well as a 400sq m city room and garden on level 14.
Hames Sharley principal Jason Preston said the building’s narrowness meant the design needed to be innovative in dealing with the challenges of structural tension, compression and stability.
“At just nine and a half metres wide and 30 stories tall, we believe this would be the narrowest building of a comparable height in Brisbane,” Preston said.
“Given the building’s four lifts are designed as a ‘side core’ to the west boundary wall, a building of this kind will twist and sway differently to a traditional tower, which is usually anchored by a number of central lifts, stair cores and a larger floor plate.”
The building will feature a hybrid ‘exo-skeleton’ bracing system, both as a structural necessity and to visually anchor the building.
Last year, council outlined several concerns about the height and scale of the proposed tower as well as the need for construction details compromising the heritage value of the 140-year-old hotel.
The developer agreed to reduce the tower site coverage from the initially proposed 68.5 per cent to 67.9 per cen and enlisted expert guidance of heritage architect Malcolm Elliot from Vault Heritage Consulting.
Preston said Hames Sharley’s design incorporated the client’s desire for a grand entrance that honoured the heritage status of the existing building.
Construction of the development is expected to start December and once complete the building is expected to earn premium A-grade commercial development status due to its sustainability characteristics, high-end lobby finishes, express lifts and high-performing services.
Yeerongpilly Green Urban Renewal Ramps Up
A major urban renewal project in Brisbane’s south continues as the first residential stage of the $850 million development project has launched to market.
Spanning a 14-hectare site, Yeerongpilly Green, described by the Queensland government as “an exciting urban village” is under way by developer Consolidated Properties Group and CVS Lane Capital Partners.
The regeneration project, located five-kilometres from Brisbane’s CBD, will comprise 28,000sq m of commercial space, an 8750sq m retail and dining precinct, and 1.8 hectares of parkland space, with plans for 1200 dwellings to be constructed.
Consolidated Properties, led by Don O’Rorke, won the government tender to develop the Brisbane riverside site in 2015.
When completed, the precinct will be home to 3000 new residents, a range of commercial and retail businesses, and up to two-hectares of parklands.
The launch to market of three boutique buildings marks the first public release of the residential stage, with O’Rorke describing the buildings’ as designed with owner-occupiers in mind.
Park House and Garden House, which are both five levels in height, comprise 35 and 56 apartments respectively. While Green Terraces will comprise ten, three-bedroom residences.
O’Rorke says the Yeerongpilly project is in-line with the company’s plan to focus on residential development in established urban areas.
“After 40 years in development it’s my view that we need to be enriching amenities and social infrastructure through redevelopment in our existing communities, rather than contributing to sub-urban sprawl,” he said.
The Yeerongpilly project is the second Brisbane urban renewal project for Consolidated Properties Group, following the $650 million Cornerstone Living project in Sunnybank in Brisbane’s south, which is also in partnership with state government and CVS Lane Capital Partners.
“We expect to commence construction of all three buildings early next year… [so] the first residents could move in as early as 2021,” O’Rorke said.
Yeronga PDA development green lit
In nearby suburb Yeronga, a development scheme for the Yeronga Priority Development Area (PDA) on the old Yeronga TAFE site has been approved.
The scheme will act as a framework to transform a three-hectare site into an integrated mixed-use community and residential precinct.
Economic Development Queensland said it will partner with a private developer to deliver the precinct, with the successful development partner to be announced later this year.
More Apartments Approved in Sunshine Coast’s New CBD
New changes to the state government’s priority development scheme will see the delivery of up to 4000 new apartments in the new $2.1 billion Maroochydore CBD.
The Queensland government has approved changes to the Maroochydore City Centre that would see an increase in residential dwellings from 2000 to 4000 apartments within the priority development area.
Maximum building heights have been increased in areas to accommodate growth, while development will also need to meet design requirements relating to residential privacy and natural light access.
Last month investment and development company Pro-Invest announced it would develop the first new hotel in the Sunshine Coast’s new town centre.
The nine-storey, 167 room hotel will operate under the Holiday Inn brand, and is scheduled to open late 2020.
Construction kicked off on the first commercial building, the $30 million Cottee Parker-designed Foundation Place, by local developer Evans Long last month.
The new CBD builds on state government announcing the Maroochydore City Centre as a PDA in 2013, priming the precinct for infrastructure investment, economic development and the creation of a new CBD.
The PDA spans approximately 60 hectares, covering council owned land including the site of the former Horton Park Golf Club and land in Dalton Drive, purchased by the Sunshine Coast Council for $42 million in 2015.
The South East Queensland regional plan forecasts an additional 53,700 dwellings needed within Sunshine Coast urban areas by 2041.
Sunshine Coast Mayor Mark Jamieson said the latest approval will assist council meeting urban infill targets.
“Maroochydore is ideally placed to deliver more apartment living options for the region, and these changes will enable the city centre to grow.”
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